Wet Waste Management Market to reach 128.40 Billion USD by 2020

Wet Waste Management Market to reach 128.40 Billion USD by 2020

Wet waste management is observed for multiple sectors such as food & beverages, industrial, pharmaceutical, agriculture, and others. Niche markets in which wet waste management is used are aerospace, nutraceuticals, and textile.

The market is segmented and market size is forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The key countries are also covered and their market sizes have been forecasted for each region. Furthermore, this market is segmented and revenues are forecasted on the basis of applications.

The wet waste management industry has a positive outlook due to a high growth in the waste management industries. The growing demand for wet waste management in developing countries such as China, India, and Brazil is due to the improved economic conditions and growing environmental concern, which is driving the growth of the wet waste management industry. Key factors such as growth in the parent waste management market, increasing concern towards environment sustainability and safety, and development in the technology for waste treatment such as waste-to-energy solutions are contributing to the growth of the wet waste management market.

The wet waste management market is projected to reach USD 128.40 Billion by 2020, at a CAGR of 5.09% during the forecast period from 2015. The waste processing segment is the fastest-growing wet waste management, which is growing at a CAGR of ~5.89% during the period under review. Factors such as the increasing population and subsequent waste generation, fueled by the growing waste management technological solutions, coupled with stringent environmental regulations, make wet waste management an attractive market of the global waste management industry.

The market for wet waste management is observed to be matured in developed economies such as North America. The reason behind this is the rapid growth in the parent waste management market and increasing environmental concerns and safety in this region. The Asia-Pacific region formed the largest market for wet waste management, in terms of value, after having accounted for USD 31.67 billion in 2014. Europe formed the second-largest market, with a share of ~29%. The Asia-Pacific region is projected to be the fastest-growing market for wet waste management during the forecast period from 2015 to 2020.

The market for wet waste management is driven by the growth in the waste management industry, along with increasing waste-to-energy solutions. New technological innovations for waste management with minimal landfill disposal reduce environmental pollution and increase sustainability, driving the market. Most importantly, environmental protection and reusing waste to maximum extent have led to wet waste management in everyday life. The global wet waste management market is marked with an intense competition due to the presence of a large number of large- and small-scale firms.

This report estimates the market size of the global wet waste management market in terms of value (USD million). In this report, the market is broadly segmented on the basis of waste management service, waste source, waste type, and region. Market drivers, restraints, challenges, raw material, and product price trends are discussed in detail. The global wet waste management market has grown exponentially in the last few years and this trend is expected to continue. Strict government on environmental and waste regulations, reducing landfill, environmental pollution awareness, waste-to-energy solutions, and growing population make wet waste management an attractive market of the global waste management industry.

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